When meeting with current or prospective clients who have young children, you can, by asking one simple question and two follow-ups, gain their trust, get them to disclose their entire financial picture and ingratiate yourself with a great source...
With total arbitrations expected to hit an all-time high this year, reps must be vigilant in client dealings or they may get hit where it hurts in the pocket. Through the first six months of the year, arbitration awards totaled $72 million, on...
In this market, it is no wonder that customers are looking to recover losses any way they can. Even clients responsible for their own lousy picks are trying to pick the deep pockets of brokerage firms, claiming that they never would have racked up...
Wouldn't it be nice to have someone, or a number of someones, who could help you stay focused on new ways to help existing clients and bring in new ones?
One recent morning, before the market opened, a senior-level broker answered a call from a distraught client. It wasn't anything unusual. The investor had been calling in a panic almost daily. But this call was different. The futures market had...
A July article, Taking it To The Bank, incorrectly identified Diamond Consultants, a Mendham, N.J.-based search firm. An August article, New on Video, should have identified Ken Unger as CEO of Million-Dollar Producer, a provider of business...
Firms love deferred compensation. After all, it is your money they are deferring, not their own. Just try asking your firm to defer taking its share of your gross commission. These golden handcuffs give you added incentive to stay at the firm, if...
Why are some brokerage offices within the same network consistently profitable while others are consistently unprofitable? It's not, as you might suspect, simply because some offices are better situated to snag wealthy clients. What makes the most...
George T. Diachok is chairman and Russell Diachok is president and CEO of the new Denver-based national broker/dealer Geneos Wealth Management. The father-and-son team founded Multi-Financial Securities, which they sold to ING in 1998. Geneos...
During the heady days of the bull market brokers found themselves lured to other firms by big upfront bonuses, in the form of forgivable loans. For an increasing number of brokers, chasing the filthy lucre has had disastrous results. Unable to...
